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Urban-High Street

192 Prospect Park West

192 Prospect Park West, Brooklyn, NY 11215

Listing Price: $6,895,000

Cap Rate
4.62%
Gross SF
4,156
Rentable SF
4,156
Price/Gross SF
$1,659.05
Lot Size
0.10 acres
Year Built
1921

Investment Overview

The subject offering is a two-tenant net-leased retail property located directly in front of the entrance to the subway in one of New York City's most desirable and most dynamic neighborhoods. The property is located on the corner of Prospect Park W and Prospect Park S in Park Slope, directly next to the entrance to the 15th Street Subway Station (F and G Trains). This is a minimal management single-story retail asset leased to two outstanding tenants with annual increases, and absolutely great real estate. The offering is 4,156 SF. Ample Hills Creamery occupies 2,760 SF. They also have an additional 2,840 SF of rooftop space for outdoor seating. Ample Hills Creamery is an NYC-based chain of ice cream shops. They have 12 locations, eleven units in New York City, and a 12th in Long Beach, CA. Based in Brooklyn, they have the largest ice cream making facility in New York. Their ten-year lease runs through 2030, with annual increases and two (5) five-year options to renew. They have a percentage rent clause beginning in 2024. They pay 70% of the building's taxes and insurance. Over Greens Salads & Juice occupies 1,396 SF plus a 873 SF lower-level. They have a 3% annual increase with one (5) five-year option to renew. They are responsible for 30% of the property's real estate taxes. Over Greens has two locations, both in Brooklyn. This property is located on Bartel-Pritchard Square, a traffic circle at the Southwest entrance to Prospect Park, the second largest park in Brooklyn. Prospect Park gets over ten million yearly visitors, and the 15th Street Subway Station (property is located directly in front of the station) has a ridership of just under two million passengers per year. This site has 8,744 SF of additional buildable square footage. The is zoned R8B/C2-4 and allows for a total buildable square footage of 12,900 SF.

Investment Highlights

  • 4,156 SF Single-Story Retail + 2,800 SF of Rooftop Seating
  • 100% Occupied With Annual Increases
  • Perfect Minimal Management 1031 Exchange Property

Exclusively Listed By

Financing By

Urban-High Street

192 Prospect Park West

Listing Price: $6,895,000

Cap Rate
4.62%
Gross SF
4,156
Rentable SF
4,156
Price/Gross SF
$1,659.05
Lot Size
0.10 acres
Year Built
1921

Investment Highlights

  • 4,156 SF Single-Story Retail + 2,800 SF of Rooftop Seating
  • 100% Occupied With Annual Increases
  • Perfect Minimal Management 1031 Exchange Property

Investment Overview

The subject offering is a two-tenant net-leased retail property located directly in front of the entrance to the subway in one of New York City's most desirable and most dynamic neighborhoods. The property is located on the corner of Prospect Park W and Prospect Park S in Park Slope, directly next to the entrance to the 15th Street Subway Station (F and G Trains). This is a minimal management single-story retail asset leased to two outstanding tenants with annual increases, and absolutely great real estate. The offering is 4,156 SF. Ample Hills Creamery occupies 2,760 SF. They also have an additional 2,840 SF of rooftop space for outdoor seating. Ample Hills Creamery is an NYC-based chain of ice cream shops. They have 12 locations, eleven units in New York City, and a 12th in Long Beach, CA. Based in Brooklyn, they have the largest ice cream making facility in New York. Their ten-year lease runs through 2030, with annual increases and two (5) five-year options to renew. They have a percentage rent clause beginning in 2024. They pay 70% of the building's taxes and insurance. Over Greens Salads & Juice occupies 1,396 SF plus a 873 SF lower-level. They have a 3% annual increase with one (5) five-year option to renew. They are responsible for 30% of the property's real estate taxes. Over Greens has two locations, both in Brooklyn. This property is located on Bartel-Pritchard Square, a traffic circle at the Southwest entrance to Prospect Park, the second largest park in Brooklyn. Prospect Park gets over ten million yearly visitors, and the 15th Street Subway Station (property is located directly in front of the station) has a ridership of just under two million passengers per year. This site has 8,744 SF of additional buildable square footage. The is zoned R8B/C2-4 and allows for a total buildable square footage of 12,900 SF.

Exclusively Listed By

Financing By

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